Mirae Asset Small Cap Fund Direct Growth NAV Slips to ₹12.78 on 16 September; 1-Year Return at 7.75%

Key Takeaways

• Mirae Asset Small Cap Fund Direct Growth NAV declined 0.13% to ₹12.78 on 16 September 2026. 
• The scheme recorded a one-year return of 7.75%; a valid three- or five-year CAGR is not yet available because it has not completed those periods. 
• Welspun Corp was the largest listed equity holding at 2.77%, while TREPS represented 2.37%. 
• Fund size stood at approximately ₹5,717 crore, with a Direct Growth expense ratio of 0.67%. 

Mirae Asset Small Cap Fund Direct Growth moved 0.13% lower to ₹12.78 on 16 September 2026. The fund is still relatively new, with the latest scheme page indicating an operating age of around one year. Its fund size stood at approximately ₹5,717 crore, and the Direct Growth expense ratio was 0.67%. 

The available one-year return was 7.75%. A valid three-year CAGR and five-year CAGR are not yet available because the scheme has not completed those full operating periods. Using a since-inception figure as a substitute would produce a different measurement and therefore would not be comparable with standard three- or five-year annualised return statistics. 

Welspun Corp was the largest disclosed listed equity position at 2.77%. TREPS accounted for 2.37%, followed by Karur Vysya Bank at 2.33%, Kirloskar Oil Engines at 2.24% and Dr Lal PathLabs at 2.18%. Together, the five leading disclosed entries, including TREPS, represented 11.89% of assets. 

The scheme page listed historical alpha at 7.69, beta at 0.78, standard deviation at 5.46 and the Sharpe ratio at 0.71. Given the shorter operating history, these statistics are necessarily based on a more limited observation period than those available for funds with decade-long records. They should not be treated as long-cycle measures. 

Minimum investment amounts also differed slightly from many established schemes in the set: the minimum SIP was ₹99, while the minimum lump-sum investment was ₹5,000. As the operating history expands, additional standard return periods will become available, but the current article is limited to measurements supported by the scheme's actual history. 

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.